What is a Home Equity Loan?

A Home Equity Loan (or second mortgage) is a loan that uses the equity in your home as collateral. These loans offer lower interest rates and an affordable repayment plan to pay down both the principal balance and interest.

  • Fixed interest rate and payment. (Contact us for today's rates)
  • 75% - 90% Loan-to-Value. (Equity Value of Home)
  • Flexible terms. (Up to 10 years)
  • Prompt credit decision upon submission of completed application and required documentation.  
Home equity loans are a great alternative to revolving lines of credit (like credit cards and home equity lines of credit).
A home equity loan may be the right for your:
  • Home Improvement Project
  • Debt Consolidation
  • Vehicle Purchase
  • Higher Education Expense
  • Medical Expenses
  • New Small Business Start Up

Questions? Contact a Friendship lender today.